TSX Venture Symbol: COR
VANCOUVER, Aug. 22, 2017 /CNW/ - Camino Minerals
Corporation ("Camino" or the "Company") (COR: TSX-V) is pleased to
report results for three diamond drill holes completed on the
Ariana Zone and four holes on the Katty Zone at its Los Chapitos
Project ("Chapitos"), located in southern Peru.
Select drill highlights for the Adriana Zone include:
- DCH-012 intersected 0.93% copper over 96.5 meters, including
2.03% copper over 19.5 meters and 5.01% copper over 4.5 meters;
- DCH-019 intersected 0.97% copper over 42.0 meters, including
3.31% copper over 7.5 meters.
Select drill highlights for the Katty Zone include:
- DCH-010 intersected 0.70% copper over 43.5 meters, including
1.85% copper over 5.6 meters;
- DCH-014 intersected 1.20% copper over 21.4 meters, including
2.70% copper over 7.9 meters.
Holes DCH-012, DCH-016, and DCH-019 are the first holes
completed from Pad 2A to drill perpendicular to the initial holes
which were drilled from Pad 1. These holes confirm the
presence of the previously reported high grade copper
mineralization, including hole CHR-002 which intersected 1.30%
copper over 106 meters, including 2.12% copper over 38
meters. The results of the diamond drilling suggest two
ore controls are present in the deeper mineralization. First,
the Diva Fault appears to be the re-activation of an earlier,
structurally controlled breccia which was cemented with copper
sulphides. Grades in this mineralized breccia range up
to 8.30% copper over 1.5 meters. This mineralization is
interpreted to be the steeply dipping feeder zone for the Adriana
copper system. It has so far been traced for over 400 meters
along strike, over 350 meters down dip, and is open along strike
and at depth.
Second, copper also forms magnetite replacement zones spreading
out into specific beds within the andesitic volcanics. This
style of mineralization has so far been intersected up to 150
meters away from the feeder system. All three holes from Pad
2A ended in a hypabyssal volcanic which contained finely
disseminated magnetite, minor pyrite, and locally anomalous copper
values.
At the Katty Zone, holes DCH-010, and DCH-014 confirm the
presence of a shallow zone of high grade copper oxide
mineralization that is plunging to the south east. The
mineralization has so far been intersected in an area measuring 75
meters long, up to 75 meters wide, and to depths of 100 meters
below surface. The copper oxide mineralization is found in
structurally controlled breccias and transitions into sulphide
mineralization at depth. The zone is open along trend to the
south east and at depth.
Work continues on the project with two drills active, both
currently working at the Adriana Zone, with additional drilling
planned for the Katty Zone. Through the end of the year, the
Company expects to complete an additional 8,000 to 10,000 meters of
definition and step-out drilling at the Adriana Zone; 2,000 to
3,000 meters at the Katty Zone; and preliminary drill programs at
both the Vicky Zone, 2 kilometers south east of Katty, and the
Atajo Zone, located on a separate trend 6 kilometers to the south
west. An amendment to the existing exploration permit has
been filed for the proposed drilling at the Vicky Zone. A
separate permit application has been filed for the initial drill
program at the Atajo Zone. The Company expects both will be
approved in time to allow drilling in the fourth quarter of this
year.
Kenneth C. McNaughton, M.A.Sc.,
P.Eng., is the Qualified Person (QP) responsible for the Chapitos
project.
Updated drill sections and summary presentation can be found on
the company website at www.caminominerals.com.
Table 1: Selected Diamond Drill Results,
(1,2)
Hole
Number
|
Dip/
Azimuth
(degrees)
|
From
(meters)
|
To
(meters)
|
Interval
(meters)
|
Total
Copper
(%)
|
Acid
Soluble
Copper
(%)
|
Adriana
Zone
|
DCH-012
|
-56/229
|
158.50
|
163.00
|
4.50
|
0.44
|
0.09
|
|
|
175.00
|
271.50
|
96.50
|
0.93
|
0.19
|
Incl.
|
|
197.50
|
217.00
|
19.50
|
2.03
|
0.32
|
and
|
|
245.50
|
250.00
|
4.50
|
5.01
|
0.31
|
|
|
|
|
|
|
|
DCH-016
|
-65/229
|
98.50
|
101.50
|
3.00
|
0.29
|
0.22
|
|
|
141.00
|
153.00
|
12.00
|
0.55
|
0.43
|
Incl.
|
|
145.50
|
148.50
|
3.00
|
1.23
|
1.12
|
|
|
187.00
|
199.50
|
12.50
|
0.17
|
0.15
|
|
|
297.50
|
306.00
|
8.50
|
0.75
|
0.21
|
|
|
|
|
|
|
|
DCH-019
|
-45/229
|
186.50
|
201.50
|
15.00
|
0.24
|
0.08
|
|
|
201.50
|
243.50
|
42.00
|
0.97
|
0.17
|
Incl.
|
|
222.50
|
230.00
|
7.50
|
3.31
|
0.10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Katty
Zone
|
DCH-010
|
-50/68
|
16.10
|
21.45
|
5.35
|
0.81
|
0.61
|
|
|
31.00
|
36.70
|
5.70
|
0.51
|
0.34
|
|
|
82.30
|
125.80
|
43.50
|
0.70
|
0.54
|
Incl.
|
|
120.25
|
125.80
|
5.55
|
1.85
|
1.45
|
|
|
130.00
|
142.80
|
12.80
|
0.25
|
0.19
|
|
|
|
|
|
|
|
DCH-013
|
-55/221
|
36.50
|
45.75
|
9.25
|
0.67
|
0.23
|
|
|
|
|
|
|
|
DCH-014
|
-60/68
|
17.65
|
39.00
|
21.35
|
1.20
|
1.04
|
Incl.
|
|
17.65
|
25.50
|
7.85
|
2.70
|
2.46
|
|
|
123.50
|
141.70
|
18.20
|
0.50
|
0.15
|
|
|
|
|
|
|
|
DCH-015
|
-50/250
|
|
NSV
|
|
|
|
(1)
|
True thickness to be
determined.
|
(2)
|
All samples were
submitted for preparation and analysis by ALS Chemex at its
facilities in Lima, Peru. All samples were analyzed using
multi-digestion with ICP finish and fire assay with AA finish for
gold. Samples over 1% copper were reanalyzed using four acid
digestion with an ore grade ICP finish. Mineralized samples were
analyzed for acid soluble copper by being agitated at room
temperature in a 5% sulphuric acid solution with the copper content
measured by AA. One in 20 samples was blank, one in 20 was a
standard sample, and one in 20 samples had a sample cut from assay
rejects assayed as a field duplicate at ALS Chemex in Lima,
Peru.
|
About Camino Minerals Corporation
Camino is a discovery-oriented mineral exploration company. The
Company is focused on the acquisition and development of high-grade
copper and precious metal projects. For more information, please
refer to Camino's website at www.caminominerals.com.
Cautionary Note Regarding Forward-Looking Statements and
Information
This News Release contains "forward-looking information" and
"forward looking statements" within the meaning of applicable
Canadian and United States
securities legislation. Statements contained herein that are not
based on historical or current fact, including without limitation
statements containing the words "anticipates," "believes," "may,"
"continues," "estimates," "expects," and "will" and words of
similar import, constitute "forward-looking statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995.
Forward-looking information may include, but is not limited to,
information with respect to our planned exploration activities, the
adequacy of our financial resources, the estimation of mineral
reserves and resources, the results of future exploration and
drilling. Wherever possible, words such as "plans",
"expects", "projects", "assumes", "budget", "strategy",
"scheduled", "estimates", "forecasts", "anticipates", "believes",
"intends", "targets" and similar expressions or statements that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative forms of
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identify forward-looking statements and information.
Forward-looking information is subject to a variety of known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ from those expressed or implied
by the forward-looking information, including, without limitation,
those risks identified in the Company's annual disclosure
materials, filed with the securities regulatory authorities in
Canada and available at
www.sedar.com. Readers are encouraged to read these
materials. Prospective investors should not place undue
reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Camino Minerals Corporation